Lack of Government Funding Could Lead to Crisis for Renewable Energy

By Sarah Briggs | Published March 21, 2009

Following the shocker from Shell last week that they will no longer be investing in renewable energy technologies, experts are now warning that the future could be far from green for Britain’s carbon emissions targets if the government doesn’t make a serious financial commitment, and soon.

John Constable, head of policy at REF (the Renewable Energy Foundation), voiced concerns last year that he didn’t think the government was being realistic about what could be achieved, and warned at the time that there had been too much “hype” around renewable energy projects. One of the main problems that has being picked out Andrew Mill, a member of the government’s Renewable Energy Board, is the lack of definitive information about the true state of the renewable energy company’s finances. He warns that because the initiatives are seeking funding and investment, they are not going to want to draw attention to any problems they may be facing as this would damage their chances of financial help.

The current economic downturn is also being blamed for its part in the potential problems facing renewables companies. Because of the drying up in funds available for borrowing, companies are not even able to turn to the banks for a boost. And this comes following the release of Age of Stupid to a number of independent cinemas across the UK, which has inspired thousands of viewers at its premiere last week alone. At a time where the issues of climate change, carbon emissions and reducing environmental impact are all high on (most) people’s agendas, let’s hope the government can be relied upon to do what it takes to keep Britain on track for a greener, renewable future, and not take the easy way out by approving plans for the proposed Kingsnorth Coal Power Station in Kent.